Ecovyst adds $100M Term Loan B to fund INEOS Calabrian sulfur business acquisition

Transaction and financing

Ecovyst intends to issue a $100 million fungible Term Loan B add-on to help finance its pending acquisition of the Calabrian sulfur dioxide and related sulfur derivatives business from INEOS Enterprises. The add-on is expected to be co-terminus with the Company’s existing $397 million Term Loan B, which is due June 2031. The deal is to be financed with the add-on and cash on the balance sheet.

Timing and company view

The acquisition is targeted to close by the end of the second quarter of 2026. "We believe this amendment to our Term Loan Facility, along with cash on hand, will provide the optimal financing structure for the Calabrian acquisition, expected to close at the end of the second quarter," commented Mike Feehan, Ecovyst’s Chief Financial Officer. Ecovyst expects combined net debt leverage of approximately 2x at close.

Forward-looking statements and risks

The release reiterates forward-looking statement caution and identifies potential risks, including the ability to close the term loan financing, unmet closing conditions, events that could terminate the INEOS transaction, unexpected costs or delays, legal proceedings, integration risks for the acquired business, and broader political, economic, regulatory, currency and inflation-related factors. It directs readers to the company’s SEC filings for additional risk detail.